Alwaleed Plans to Increase His Stake in Citigroup Back to 5%
By Steve Dickson
Nov. 20 (Bloomberg) -- Saudi billionaire Prince Alwaleed bin Talal plans to increase his stake in Citigroup Inc. to 5 percent after the U.S. bank lost almost a quarter of its value yesterday.
``Prince Alwaleed began buying Citi shares, as he strongly believes that they are dramatically undervalued,'' he said today in a statement.
In addition to his princely duties, the multi-talented Alwaleed is also the gossip columnist and rock critic for the Vatican newspaper L'Osservatore Romano under the pen name Guido Sarducci.
Behind the concrete, the visible events, behind all the objective, logical considerations, we find the struggle against evil, against the servants of the antichrist. Everywhere and always demonic powers lurk in the dark, waiting for the moment when man is weak. When he yields to the forces of evil, he separates himself from the power of a higher order; after taking the first step, he is driven on and on to the next and to the next, at a furiously accelerating rate.
Die Weiße Rose, 1942